CFP Board floats revised disciplinary rules
The board said it will delay action on its prior proposal to allow petitions for the removal of public discipline from the board’s website.
The Certified Financial Planner Board of Standards is taking a second round of public comments on a revised set of procedural rules that spell out how financial planners are to be disciplined by the board.
The proposed rules for enforcement of the CFP Board’s standards, previously released in November of 2018, now include updates based on feedback from the first round of public comments. New comments are due by April 24.
The CFP Board, citing a number of commenters who addressed a prior proposal to allow petitions for the removal of public discipline from the board’s website, said it will now wait to make a decision.
‘CFP Board has decided to delay action regarding this topic until after CFP Board forms a Commission on Sanctions later in 2020 to evaluate and recommend changes to CFP Board’s Sanctions Guidelines and Fitness Standards,’ the board said in a release. ‘Any proposed changes to the Procedural Rules resulting from that work will be evaluated by the Board of Directors and issued for public comment before becoming final.’
By Jake Martin
March 25, 2020